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By Alex Ellis

UK GDP data was released today and surprisingly although the data was released slightly better than expected, ever since the release Sterling rates have continued their downturn and the euro exchange rate has now moved 2% in a matter of days. Therefore the effect that UK GDP has had on exchange rates is a negative one and this just goes to show how volatile the currency market can be. For those looking to conduct currency purchases contact our experienced currency brokers using Currency Line who will give you access to award winning exchange rates.

By Alex Ellis

Sterling exchange rates are looking especially weak this morning and this could be a sure sign that the market is anticipating Sterling losses tomorrow however as is always the case with data releases such as these they are very difficult to predict and there is always the possibility that the market may go the other way. If the GDP figure is released worse than expected then this will further the possibility that the Bank of England will further its Quantitative Easing scheme. In the past this has caused Sterling weakness so there is every chance that this will happen again if the BoE choose to adopt this approach.

For those looking to conduct any form of currency purchase the market remains especially volatile, and it seems it may remain this way until some form of balance is obtained in the world economies.

By Alex Ellis

On Friday of this week at 09:30, the revised GDP figure for the U.k. will be released by the Office of National Statistics. During January the poor weather experienced caused poor retail figures, as well as a low number of mortgage approvals; which shows the poor health of the housing market, therefore the chances are that the GDP figure could be massively affected. If the GDP figure is released worse than expected then the chances are Sterling exchange rates will fall as the general trend is that this is a negative for the currency.

For those looking to trade Euros the chances are that this figure will affect the currency market and dependent on how the figure is released will determine what course the exchange rates take.

By Tom Higham

Following the governor of the Bank of England Mervyn King’s comments yesterday morning that Quantatitive Easing (QE) programme could be used again in the coming months the Pound fell agains a basket of major currencies. However, we did see a rebound towards the end of the day and we begin trading today with Sterling again losing ground but still at decent buying levels especially for those with a Euro requirement.

If you would like to discuss your requirements and the options open to you then complete the contact form and an experience currency broker will be in touch to assist you.

By Alex Ellis

Current foreign exchange rates are showing that Sterling is holding steady following losses during the course of last week, the most notable loss is for the GBP/AUD exchange rates which are currently trading at a 25 year low. For those looking to sell Australian Dollars and buy Sterling this is positive news as you may see a substantial return on your currency purchase

Meanwhile for those looking to trade Euros the exchange rates have seen significant losses compared to trading levels seen during recent weeks. I believe that this is on the back of the speculation surrounding Gordon Brown’s bullying as it shows a degree of political uncertainty and furthers the possibility of a hung parliament. The most significant data due out this week is German GDP data due out tomorrow at 07:00 (GMT), as Germany is considered one of the most major economies in the Euro zone any data they release can cause exchange rate movements if deviating from what has been predicted.